Quote:
Originally Posted by captain1202
Re: an earlier post
Actually the financial storm started many months ago and there were many intelligent folks who foresaw what was coming down the pike (Ron Paul, for instance). For most politicians including Bush and McCain we were merely experiencing a "bump in the road". Even a financial neophyte could see that was not the case and the situation was much worse and the potential damage was very serious.
As to Obama's campaign promises, I'm not surprised about the back pedaling. I was certain that once he got his eyes on the National Intelligemce Assesment and got more info on the way things really were financially, he'd realize the financial problems would eat up his campaign hopes.
One could say that his daily doomsaying is a scare tactic, but I'd rather think it is more a policy of telling folks like it is...VERY SERIOUS. Americans are a resourceful lot, and armed with the facts, usually make good decisions. Up until now, all we've been fed is pablum which many have chosen to accept without looking behind the curtain.
There are so many factors WORLDWIDE working against financial stability it's hard to see where the "stimuli" packages will have any meaningful effect here. Not to mention the fact that the deficit has gone vertical. Great news for us, our kids, grandkids, and great grands.
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Well said. Also, the increasingly bleak outcast on the economy only became more evident later in his campaign, and as you said, once he got his hands on all the data he's had to change his priorities to match what has changed in the world. If he tried to keep up with some of his campaign promises in the face of negative spiral of the economy, it would be criminal. I do like the fact I think he is feeding us the facts. I don't necessarily agree with the stimulus package as it stands, but that remains to be hashed out by congress.